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One of the most important measures of company performance is market share. Market share is defined as the company's sales ( in units or dollars

One of the most important measures of company performance is market share. Market share is defined as the company's sales (in units or dollars) divided by the total sales (in units or dollars) of the market. Linda is a small business owner who is trying to determine how well she is doing in the market. Her handmade jewellery store sold 110 pieces of jewellery last month with total sales of $12,650. She knows there are two main competitors in her local market. One competitor is about the same size as her business but sells less expensive jewellery, while one is considerably bigger with more staff and in a better location for walk-in traffic, but also sells less expensive items. She estimates sales of the similar store were 110 pieces, but total sales were $5,500 for the month since the prices are lower in that store. The larger competitor she estimated sold 760 pieces of jewellery and had sales for the month of $41,990. She also knows there is a store that is a little outside her market that sells inexpensive jewellery along with other merchandise. That store she estimates sells about 1,000 items a month and has sales of about $35,000. The information is summarized in the table:
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